Capital Group Growth ETF (NYSEARCA:CGGR) Sets New 1-Year High – Time to Buy?

Capital Group Growth ETF (NYSEARCA:CGGR) reached a new 52-week high during trading on Tuesday . The stock traded as high as $44.65 and last traded at $44.58, with a volume of 1987719 shares changing hands. The stock had previously closed at $44.48.

Capital Group Growth ETF Price Performance

The firm has a market capitalization of $15.45 billion, a PE ratio of 30.88 and a beta of 1.09. The company’s fifty day simple moving average is $42.30 and its 200 day simple moving average is $38.58.

Institutional Investors Weigh In On Capital Group Growth ETF

Several institutional investors have recently added to or reduced their stakes in CGGR. LPL Financial LLC increased its position in shares of Capital Group Growth ETF by 36.1% during the first quarter. LPL Financial LLC now owns 22,834,860 shares of the company’s stock valued at $782,094,000 after buying an additional 6,059,534 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Capital Group Growth ETF by 29.0% during the second quarter. Envestnet Asset Management Inc. now owns 10,446,012 shares of the company’s stock valued at $424,630,000 after buying an additional 2,346,788 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Capital Group Growth ETF by 13.8% during the first quarter. Commonwealth Equity Services LLC now owns 11,677,554 shares of the company’s stock valued at $399,956,000 after buying an additional 1,415,798 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Capital Group Growth ETF by 14.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,407,693 shares of the company’s stock valued at $423,073,000 after buying an additional 1,333,201 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of Capital Group Growth ETF by 25.2% during the second quarter. Cetera Investment Advisers now owns 6,196,806 shares of the company’s stock valued at $251,900,000 after buying an additional 1,247,558 shares during the period.

About Capital Group Growth ETF

The Capital Group Growth ETF (CGGR) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that invests predominantly in US companies of any market capitalization. The fund seeks to provide capital growth. CGGR was launched on Feb 22, 2022 and is managed by Capital Group.